UBS Group Cuts IAC (NASDAQ:IAC) Price Target to $54.00

IAC (NASDAQ:IAC) had its target price trimmed by UBS Group from $55.00 to $54.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $110.00 target price on shares of IAC in a report on Tuesday, November 12th. TD Cowen reduced their target price on IAC from $82.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and set a $70.00 target price on shares of IAC in a report on Monday, December 16th. Citigroup boosted their price target on IAC from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, KeyCorp dropped their price target on IAC from $66.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, IAC has an average rating of “Moderate Buy” and an average target price of $64.33.

IAC Stock Down 2.1 %

IAC stock opened at $46.99 on Thursday. IAC has a fifty-two week low of $39.61 and a fifty-two week high of $58.29. The business’s 50 day moving average price is $43.08 and its two-hundred day moving average price is $48.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -109.26 and a beta of 1.32.

Hedge Funds Weigh In On IAC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC lifted its position in IAC by 581.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 98,307 shares of the company’s stock valued at $5,291,000 after acquiring an additional 83,878 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in IAC by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 948,112 shares of the company’s stock valued at $51,027,000 after buying an additional 52,271 shares during the last quarter. Royce & Associates LP raised its stake in IAC by 5.1% during the 3rd quarter. Royce & Associates LP now owns 278,679 shares of the company’s stock valued at $14,999,000 after buying an additional 13,400 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in IAC by 15.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 334,267 shares of the company’s stock valued at $17,990,000 after buying an additional 44,000 shares during the last quarter. Finally, Barclays PLC raised its stake in IAC by 922.5% during the 3rd quarter. Barclays PLC now owns 60,737 shares of the company’s stock valued at $3,268,000 after buying an additional 54,797 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.